EigenLayer, an Ethereum liquidity re-pledging protocol, announced yesterday evening that they have received a $100 million investment from prominent US crypto venture capital firm a16z.
After securing a $50 million Series A funding led by Blockchain Capital in March 2023, EigenLayer has once again received a substantial investment, this time from a16z.
a16z partner Ali Yahya explained why they decided to invest in EigenLayer. In a post on the social platform X, Yahya expressed his admiration for EigenLayer founder Sreeram Kannan and outlined his understanding of the protocol.
Additionally, according to DeFiLlama data, EigenLayer’s Total Value Locked (TVL) has reached $7.8 billion, making it the fourth largest protocol, surpassing well-known projects such as Uniswap and JustLend. It is closely following AAVE and has shown remarkable growth.
For more information, please refer to the extended reading materials:
– An analysis of the principles and advantages of EigenLayer’s re-pledging mechanism
– What is re-pledging? Dual yield and governance rights explained in-depth
– The LSD sector has yet to fully exert its power, and the Ethereum secondary pledging protocol EigenLayer is about to arrive
– Bankless predicts for 2024: EigenLayer’s TVL surpassing $10 billion and Solana experiencing another outage.
Image Source: DeFiLlama